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10/29, 9:08 PM (Source: TeleTrader)
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Facebook EPS beats estimates at $2.71 in Q3

Facebook Inc. announced third-quarter results on Thursday, revealing that its diluted earnings per share (EPS) annually surged above the estimates, rising 28% to reach $2.71. The company's revenue also beat the expectations by surging 22% over the same period to arrive at $21.47 billion.

Net income advanced 29%, reaching $7.85 billion. The number of both daily and monthly Facebook users increased by 12% compared to the same trimester of 2019, landing at 1.82 billion and 2.74 billion, respectively.

"Looking ahead to 2021, we continue to face a significant amount of uncertainty," CFO David Wehner said in the report, adding that Facebook expects its fourth-quarter effective tax rate to be in the "mid-teens" and full-year 2021 tax rate in the "high-teens."

Facebook went up 1.54% in the after-hours trading following the release.

Breaking the News / ND